Private lender HDFC Bank has appointed ICICI group veteran Anup Bagchi
as its next managing director and chief executive officer following
approval from the Reserve Bank of India. On the other hand, Kotak
Mahindra Bank announced the appointment of Anup Kumar Saha as its new
managing director and chief executive officer.
HDFC Bank said following the central bank’s approval, the bank’s board
approved Bagchi’s appointment as MD and CEO for three years from
October 27, subject to shareholder approval. It also appointed him as
an Additional Director with effect from October 2. Bagchi’s term as MD
and CEO will run until October 26, 2029.
Bagchi, currently MD and CEO of ICICI Prudential Life Insurance, will
succeed Sashidhar Jagdishan, whose term ends on October 26. The lender
on August 29 had informed the exchanges that Jagdishan had decided not
to seek reappointment.
Bagchi has been associated with the ICICI Group since 1992 and
previously served as Executive Director of ICICI Bank from 2017 to
2023. His responsibilities included wholesale banking, transaction
banking, the markets group and the proprietary trading group. He also
served as a non-executive director of ICICI Prudential Life Insurance
from October 2018, before heading the insurance company. He has also
served as CEO and MD of ICICI Securities.
Bagchi holds a management degree from the Indian Institute of
Management Bangalore and an engineering degree from the Indian
Institute of Technology Kanpur.
Meanwhile the central bank also approved the appointment of Anup Kumar
Saha as the managing director and chief executive officer of Kotak
Mahindra Bank Ltd. for a period of three years, effective January 1,
2027. He joined the bank in January 2026, and is currently executive
director of Kotak Bank.
Saha will replace Ashok Vaswani whose term as Kotak Mahindra Bank’s MD
and CEO will end on December 31, 2026. Vaswani had not sought a
re-appointment due to personal reasons. The veteran banker had
replaced Uday Kotak in January 2024.
Disclaimer : This story is auto aggregated by a computer programme and has not been created or edited by DOWNTHENEWS. Publisher: deccanchronicle.com
